Poker Pro Erik Seidel Cites New Tax Rule as 'Untenable' and Adjusts Tournament Schedule
Erik Seidel, a Hall of Fame poker player with over $48 million in career earnings, is reducing his tournament participation due to new U.S. tax rules limiting loss deductions for gamblers. The rule change allows only 90% of losses to be deducted against winnings instead of the previous full deduction, potentially increasing taxable income even if players lose money overall.
Topics: poker professional_gambling taxation